Ascot Resources (TSE:AOT) Stock Price Down 18.2% - Time to Sell?

Key Points

• Shares of Ascot Resources fell by 18.2% during trading, with an increase of 460% in trading volume compared to the average session.
• BMO Capital Markets downgraded Ascot Resources' rating from "strong-buy" to "hold", reflecting a consensus price target of C$0.15.
• The company has a market cap of C$66.92 million and is primarily focused on gold and silver exploration in the Golden Triangle region of British Columbia.

Ascot Resources Ltd. (TSE:AOT - Get Free Report)'s share price dropped 18.2% on Monday . The company traded as low as C$0.05 and last traded at C$0.05. Approximately 9,296,892 shares changed hands during trading, an increase of 644% from the average daily volume of 1,248,970 shares. The stock had previously closed at C$0.06.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets lowered Ascot Resources from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ascot Resources presently has a consensus rating of "Hold" and an average price target of C$0.15.

Ascot Resources Stock Down 11.1%

The firm has a 50-day simple moving average of C$0.06 and a 200 day simple moving average of C$0.09. The company has a debt-to-equity ratio of 6.67, a current ratio of 0.23 and a quick ratio of 1.73. The company has a market capitalization of C$59.49 million, a PE ratio of -0.14 and a beta of 0.15.

Ascot Resources Company Profile

Ascot Resources Ltd is a development and exploration company. It is a focused gold and silver explorer with a portfolio of advanced and grassroots projects in the Golden Triangle region of British Columbia. It holds an interest in Premier Gold Project and Red Mountain Project. The company also has two other properties; Swamp Point, an aggregate project located in British Columbia on the Portland Canal, and Mt.